It's no secret that the mass media and social networks are capable of manipulating public opinion. Many people recklessly trust the opinion of the reputable successful individuals and of the majority.
Quite a pity as not many know this smart guys they idolized are just using them to create more wealth for themselves. Elon promoting doge is just for his selfish reasons. He knows bitcoin can't be manipulated like with other altcoins. Today doge dropped approximately -45% with in minutes, and probably many investors would have been rekted by now.
Majority of individual of the general public wants quick money which is what lead then to invest in project that get hyped from this public figures without having any fundamentals or real utilities
With what Elon is doing, I don't think he has the best interest of the industry at heart knowing fully well that when the bubble does burst and the hype is over thousands of speculators will be hurt and this will definitely paint the industry black as some pump and dump market which will drive away potential investors.